09 September 2019

IRLA Breakfast Briefing – Discontinued Business Transactions’This briefing will inform delegates on: the options available for capital efficiency and recycling; how to impress the board and shareholders with the tools that legacy management provides and the range and professionalism of the legacy market as a business partner

A top down risk factor approach to managing long term assetsLyxor’s algorithm-driven hedging strategy, can give clients improved performance, better control of capital costs and more robust protection against market falls. Many institutional investors use derivatives-based equity overlay strategies to earn additional returns on their underlying assets. At the same time, they typically wish to hedge a portion of the associated equity risk. But what’s the best way of managing overlays? A passive hedging strategy is sub - efficient, according to Lyxor research: it provides lower returns and achieves a more volatile risk budget. In the worst case, a passive strategy leads to investors hedging their equity exposure after markets have already fallen sharply. They then pay most for protection at the worst time.

Speakers:

Rudyard Ekindi
Olivier De Besombes
David Niddam
LYXOR

11:00 – 12:00
FAIRMONT MONTE-CARLO Salon Lacoste

Integrating sustainability within the risk management frameworkThe insurance industry plays three roles in society: risk manager, investor and risk carrier. Social and environmental factors will impact an insurance company’s business activities in the future, carrying its own risk factors which will need to be considered. We will discuss how integrating sustainability, both in the investment process and in the risk management framework, is a needed challenge to have a positive environment, social and governance impact.

Speakers:

Ghislain Perisse, Head of Insurance Strategy, EMEA SCHRODERS

14:45 – 15:45
FAIRMONT MONTE-CARLO Salon Lacoste

The Nine Newly Known Unknowns: Long‐Tail Emerging Risks for 2020In this presentation, we will first review the state of the current glyphosate, opioids and talc litigations (GOT) and provide estimates of potential litigation losses, including consideration of potential insurance losses limited by exclusions or small exposure footprints. Next, we will review the implications of GOT and identify a set of next generation risks. In long‐tail casualty, nothing is truly “unknown unknown”—all risks take years to develop and have prior footprints in scientific literatures or in the courts. Praedicat applies technology to sort through the data from science and other text sources to identify and track the newly known unknowns.

Speakers:

Dr. Robert T. Reville, Praedicat CEOPraedicat

16:00 – 17:00
FAIRMONT MONTE-CARLO Salon Lacoste

RITA The Reinsurance Technical Accounting Blockchain - Exchange of reinsurance accounts in seconds -The blockchain in the form of a "distributed ledger" can be optimally used to exchange and verify accounting data securely, quickly and thus efficiently. In addition to the transfer of the data, the blockchain can also map business logic in order to carry out the necessary transformations and mappings described above. The "Reinsurance Technical Accounting Blockchain - RITA" of the partnership Consurance GmbH with Inveos GmbH provides such a blockchain for the accounting and settlement of reinsurance accounting transactions. All standard reinsurance systems (ProRis, SAP FS-RI, SICS, RAIS) can be connected to RITA as a standard. During the same period, the ProRis software manufacturer, Inveos GmbH, implemented a direct integration of the Reinsurance Accounting Blockchain RITA, which is already available to all ProRis customers. Thus, all market participants - irrespective of their reinsurance system - can potentially use the blockchain RITA to exchange their reinsurance accounts. The goal of Reinsurance Technical Accounting on Blockchain (RITA) is to achieve a very high degree of automation in the dispatch and processing of accounting data, especially in reinsurance and co-insurance. This taking into account and adhering to the current requirements for security, control and traceability.

10 September 2019

Forward-looking view of risk: experts discuss the cyber threat landscapeBased on CyberCube's third Expert Survey, panelists will explore the importance of having a forward-looking view of cyber risk to identify trends before they become claims. The Expert Survey takes the pulse of a variety of threat intelligence and cybersecurity professionals and asks them to provide perspectives on the specific cyber scenarios most likely to cause catastrophic losses to the (re)insurance industry in the next 12 months. The Monte Carlo panel will discuss the importance of modelling cyber risk and how difficult it is to create a forward-looking view of risk and the importance of having a view of threat actor intelligence

Climate Impact: Assessing the risks and investing to address the opportunitiesExperts from AXA XL and AXA IM explore climate risk modelling for re/insurers and what we as investors can do to address such global challenges

Speakers:

AXA XL's Manager of Science, Dr Tom Philp, will share insights into:
• Weather risks - where are we and what does this mean for re/insurers?
• Quantifying financial impacts of climate change risks: progress to date
• Challenges in addressing the gap between nat cat and climate modelling
Jonathan Dean, AXA IM's Head of Private Markets Impact Investing, will explore:
• Impact investing: a win-win alternative?
• Climate change and other global challenges: identifying addressable opportunities to drive positive change
• How can re/insurers invest to help protect what they value and provide prosperity to people & the planet?
AXA IM

Challenges between Rating and strength new line of business (Natcat, Energy, Speciality lines..)

Speakers:

YOUSSEF FASSI FIHRI CEO SCR MAROCSCR MAROC

13:30 – 14:30
FAIRMONT MONTE-CARLO Salon Lacoste

Beyond Digital in the Insurance and Reinsurance sectorThe majority of insurers have embraced digital transformation, investing strategically and planning for long-term innovation. However, both the insurance and reinsurance sectors are still facing major challenges as they play catch-up with other industries. The rise of InsurTech start-ups and platform companies entering the sector has raised the bar for delivering exceptional customer experience, for example. This session, led by Avanade will explore those challenges and share insights into how they can be overcome. Digital transformation is a complex journey and every business has a different starting point, but there are common themes. The role of technology is critical in driving greater collaboration across the enterprise and its ecosystems, improving efficiency in claims and underwriting processes and coping with the burden of legacy policy and administration systems. Hiring, training and retaining employees with the right skills is a major constraint. While cloud is having a major impact now, the future will centre on AI and blockchain. Come and join in the discussion on how insurers can maximise their digital transformation opportunities. Avanade is the leading provider of innovative digital and cloud services, business solutions and design-led experiences on the Microsoft ecosystem, and the power behind the Accenture Microsoft Business Group. Avanade has a large global insurance and reinsurance practice.

Comprehensive Benefits of Programmatic Risk TradingAuction technology and optimization mathematics can play a powerful role in price discovery and capacity allocation, taking into account rich sets of preferences in ways that a traditional marketplace cannot. These technologies have advanced marketplaces in a range of industries including gas, electricity, advertising and financial services in general. Properly applied to the insurance and reinsurance industry, these technologies can deliver wonderful benefits and efficiencies to all. This panel will discuss emerging marketplace models that take the best of traditional reinsurance placement and marry it with the best of programmatic market mechanisms for the benefit of cedents, brokers and reinsurers.

Artificial Intelligence and Machine Learning’s impact on Insurance Decision MakingArtificial Intelligence and Machine Learning-derived claims and underwriting technologies will be the future of insurance, but these algorithms must operate from the geospatial ground truth. The Geospatial Insurance Consortium, an initiative of the National Insurance Crime Bureau, is building the world's largest database of aerial imagery designed specifically for insurers. See how this geospatial data transforms the way insurers make decisions in claims and underwriting. Our guest speakers have operated at the highest levels of geospatial information and are bringing knowledge of artificial intelligence and machine learning to the industry. Automated evaluation of imagery enables insurers to understand all of the dynamics of properties they insure without having to leave their desktop.